Exclusive: TrueLayer’s compliance and operations chief Shefali Roy to depart

By Oliver Smith on Wednesday 16 September 2020

Digital Banking

The fintech is not currently looking for replacements for either of Roy's roles.

Exclusive: TrueLayer’s compliance and operations chief Shefali Roy to depart
Image source: Shefali Roy/TrueLayer.

Shefali Roy, the chief compliance and operations officer at financial API provider TrueLayer is to leave after three years at the fintech, AltFi can exclusively reveal.

Her departure is said to be amicable and was announced to employees on Friday by CEO and founder Francesco Simoneschi along with Roy at TrueLayer’s company internal town hall meeting.

"Shefali has been instrumental in TrueLayer’s growth and a highly valued member of the leadership team. During her time with us, we built a global business, grew the team, and developed a platform that today accounts for more than half of all UK Open Banking traffic," Simoneschi told AltFi.

"After 3 years of dedicated work, myself, the executive team, and the entire TrueLayer family are sad to see Shefali go. We all wish her well with her future endeavours."

While at TrueLayer Roy was a prominent spokesperson for the company, often stepping in for Simoneschi, such as with the recent announcements of TrueLayer’s surging open banking payments during lockdown and launch of its charity tool Donate Direct.

Roy has revealed no firm plans for her next steps, but holds a number of board roles including at Ada’s List, the women in tech community, Indian volunteering group Barefoot College and cryptocurrency foundation MakerDAO.

Before starting at TrueLayer Roy was Stripe’s chief compliance officer for Europe and a compliance and risk officer for EMEA at Apple.

While TrueLayer has been recruiting heavily these last few months during lockdown, the company told AltFi it is not currently looking for replacements for either of Roy's roles which will remain vacant following her departure.

UPDATE 2020-09-22 - An earlier version of this article mistakenly titled Roy as TrueLayer's chief commercial officer, as opposed to her actual role of chief compliance officer.

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